Demonetisation the biggest scam: P Chidambaram
Congress leader and former Finance Minister P Chidambaram called demonetisation "the biggest scam of the year", while attacking Prime Minister Narendra Modi for not taking the Opposition into his confidence over the move.
"This is the biggest scam of the year and must be investigated," P Chidambaram said, while addressing a press conference in the national capital.
He wondered why Modi did not bother to consult eminent economists like Manmohan Singh on the issue.
"Government should have consulted at least Yashwant Sinha, he is their own man. They could have consulted Mr Manmohan Singh. Are they suggesting that the former PM if consulted by the present Prime Minister will betray a secret?" he said.
Chidambaram said the confidence in Indian economy has been severely dented by the number of measures undertaken by the current government and said demonetisation was the primary reason.
"Even a natural calamity might not cause so much of trouble. This is an illusion that it is intended to hurt the rich and benefit poor. I dont see any rich man getting affected," he said.
He argued that just because people are not protesting the move does not mean they approve the step taken by the government.
He also attacked the government for constantly changing the reasons for the move, the latest being that it was done to make India a cashless economy.
"To assume that India will go from 3% to 100% cashless in a matter of few months is an outlandish expectation.
Which country has cashless economy? Does US? Does Singapore have it? Where is electricity in country? Where are the machines?" he asked.
"Every bank says "no cash", so how does the govt say there is cash? This is why Dr Manmohan Singh said monumental mismanagement," he said.